Bronchoscopes Market- New Technological Development Projecting Massive Growth till 2028

The global demand for bronchoscopes is projected to grow at a moderate annual rate till 2021, showcasing a 1.3x surge during 2022-2028. With a year-on-year growth rate of 4.4 percent in 2021, the global bronchoscopes market growth is estimated to reach a valuation of U.S. $ 480.3 Mn during the same period, as indicated in a recent report by Future Market Insights (FMI) on global bronchoscopes market.

In the upcoming years, it is anticipated that the prevalence of chronic respiratory diseases, such as multiple respiratory and airway diseases, endoscopic surgeries, and the early detection and diagnosis of serious conditions like bronchopulmonary haemorrhage and chronic obstructive pulmonary diseases (COPD) will all have an additional negative impact on bronchoscope sales.

In addition to the previously mentioned factors, technological developments in the bronchoscopes market—which have seen a transition from traditional invasive procedures to minimally invasive and sophisticated devices—are a crucial factor determining the global demand for bronchoscopes and have the potential to greatly expand its range of applications.

The global need for bronchoscopes is being driven by developments such as white-light bronchoscopy, navigational bronchoscopy, and autofluorescence (blue-light) bronchoscopy, among others. Additionally, small, less invasive bronchoscopes are becoming more popular. In terms of applicability and product diversity, bronchoscope manufacturers have improved upon the initial bronchoscopes, according to a senior analyst at the company.

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Top Four Manufacturers Contribute the Largest Global Revenue

Given the rapid pace of technological progress, major expenditures are being made by leading broncoscope manufacturers in R&D projects to further improve product efficacy. The global market for broncoscopes exhibits a highly competitive environment marked by comparatively high entry barriers, distinctive and well-established products, and notably high profit margins.

Tier-1 manufacturers of bronchoscopes, including Olympus Corporation, FUJIFILM Holdings Corporation, Teleflex Incorporated, and HOYA Corporation, collectively hold a market share of approximately 62.5 percent—with Olympus Corporation contributing the largest revenue slice.

Tier-2 players such as KARL STORZ GmbH & Co KG, Ambu A/S, and Richard Wolf GmbH and tier-3 players including Rochling Group and Shanghai AoHua Photoelectricity Endoscope Co., Ltd, collectively contribute approximately 37.5 percent revenue share to the global bronchoscopes market. Key forward market strategies include:

• With continued improvements in the global healthcare setting, key players seek acquisition opportunities as a key growth strategy. Olympus Corporation, Fujifilm Holdings Corporation, Teleflex Incorporated, and HOYA Corporation are likely to focus on mergers, acquisitions, and collaborations strategies, in the coming years. HOYA Corporation, for instance, acquired C2 Therapeutics, to expand its interventional endoscopy offerings in the U.S. and also provide aftersales and repair services.
• Besides strategic tie-ups, new product launches will continue to be the key differentiation strategy, helping manufacturers to further solidify their market position. For instance, Olympus Corporation launched Truresolution objectives for multiphoton laser scanning microscopes. Teleflex Incorporated launched LMA® Gastro Airway, facilitating airway control during endoscopic procedures.
• Leading manufacturers of bronchoscopes are also focusing on geographical expansions, specifically in emerging nations, by acquiring local players in the endoscopy market.

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Key Insights Drawn from Segmentation Analysis of the Bronchoscopes Market

• On the basis of product type, video bronchoscopes are estimated to witness maximum traction. Holding an unrivaled market share of approximately 86.6 percent, video bronchoscopes sales is projected to generate nearly US$ 381.7 Mn in 2019. Utilizing the charge-coupled device (CCD) technology, video bronchoscopes can reach the
• In terms of modality, flexible fiber bronchoscopes are indicated to hold a market share of nearly 93.7 percent. Single use flexible bronchoscopes will gain maximum traction, as per the report. Stringency in regulations coupled with elimination of cross-contamination risk are some key dynamics driving the demand for single use flexible bronchoscopes.
• Asia Pacific is estimated to remain a high-revenue churning pocket, in the global bronchoscopes market. Improved access to healthcare services and rise in demand for quality healthcare, in addition to parallel need for improved user friendly products is expected to drive the sales of bronchoscopes in APAC. Moreover, focused regional expansion strategies implemented by key manufacturers of bronchoscopes, would bring further opportunities.

Critical Market Restrainers Identified

• Risks of cross-contamination and post bronchoscopy infection in the form of bleeding, troubled breathing, and low blood oxygen level. FMI study indicates high infection rate at ambulatory surgical centers (ASCs), compared to clinics and hospitals.
• Growing demand for non-invasive procedures including liquid biopsy and Magnetic Resonance Spectroscopy.
• Stringency in regulations demanding a pre-market approval (PMA).

Bronchoscopes Market, By Category Product:

• Non-Video Bronchoscopes
• Video Bronchoscopes

Modality:

• Rigid Bronchoscopes
• Flexible Fiber Bronchoscopes
• Mobile Bronchoscopes

End User:

• Hospitals
• Outpatient Centers

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